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Today I just wanted to take a moment to answer a question that I’ve been getting a lot lately.
The fall season is in full swing, and buyers have been wondering whether they should buy a home now, or wait until the market is more active at the beginning of next year. The short answer is yes, you want to buy as soon as possible. Here are two great reasons why:
The fall season is in full swing, and buyers have been wondering whether they should buy a home now, or wait until the market is more active at the beginning of next year. The short answer is yes, you want to buy as soon as possible. Here are two great reasons why:
- Interest rates are expected to rise soon, from around 4% up to 4.7%. This will greatly affect your affordability, and you won’t be able to afford as nice of a home as you could with rates at their current level.
- We are in the middle of a strong real estate recovery. Home values are going up, and are expected to go up between 5% and 7% this year. This will increase monthly payments by 10-15% for buyers who wait.
The good news is that we are heading into the holiday season, which will see a higher concentration of serious buyers. The market won’t be as active as it is in the spring or the summer, but sellers are more flexible, and there is less competition out there for the best homes.
If you have any questions for us, feel free to give me a call or send me an email. I can’t wait to hear from you!
